asian shares gain as dealers eye dollar yuan
Last Updated : GMT 02:09:47
Arab Today, arab today
Arab Today, arab today

Asian shares gain as dealers eye dollar, yuan

Arab Today, arab today

Arab Today, arab today Asian shares gain as dealers eye dollar, yuan

China's central bank calmed markets
Hong Kong - AFP

Asian markets mostly gained in tepid early trade on Friday, as dealers weighed the impact of China's yuan devaluation and the timing of a US interest rate rise.

The dollar traded sideways after advancing on solid US retail figures, which added to hopes the world's largest economy is picking up and fuelled expectations the Federal Reserve will raise rates soon.

Tokyo was flat and Sydney gained 0.11 percent in early trading. Seoul's financial markets were closed for a public holiday.

Hong Kong added 0.15 percent while Shanghai was up 0.55 percent.

China's central bank calmed markets when it said would not let the yuan slump, and on Friday set its rate against the dollar marginally higher than the previous day's close after three days of falls.

The comments, and news the People's Bank of China had intervened to support the Chinese currency, reassured nervous investors after a surprise devaluation of the yuan and two subsequent cuts roiled financial markets.

"It seems capital markets have had their moment of uncertainty and the PBoC seem to have provided just enough clarity around the direction of the CNY (yuan) to appease," said Chris Weston at IG Markets.

"However the probability of less volatility in the Chinese currency should provide support to increased expectations around a September rate hike from the Federal Reserve."

Wall Street finished little changed Thursday in choppy trade as retail sales bested expectations, even as leading department stores reported lower profits.

The sales figures added to expectations the US may raise interest rates for the first time in almost a decade, a move that had been tipped for as early as next month before the yuan devaluation.

Dealers said the expectation of an imminent US rate hike would likely cap any major gains in share markets.

"As yuan concerns dissipate, there's probably room for a short-term rebound in the markets," Nader Naeimi, Sydney-based head of dynamic asset allocation at AMP Capital, told Bloomberg News.

"It's hard to imagine sustainable gains given the prospect of the Fed raising rates soon."

In Tokyo forex trade, the dollar fetched 124.44 yen early Thursday against 124.43 yen in New York late Wednesday.

The euro exchanged hands at $1.1145 and 138.69 yen compared with $1.1152 and 138.77 yen in US trade.

Oil prices were mixed in Asia after slumping to fresh six-year lows in New York on concerns that weaker growth in China could dent demand from the top crude importer.

US benchmark West Texas Intermediate for September delivery was down 17 cents to $42.06 and Brent crude for September rose two cents to $49.24 in morning Asian trade.

Safe-haven gold fetched $1,113.96 compared to $1,121.23 late Thursday.

arabstoday
arabstoday

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asian shares gain as dealers eye dollar yuan asian shares gain as dealers eye dollar yuan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asian shares gain as dealers eye dollar yuan asian shares gain as dealers eye dollar yuan

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday